"Entry-level wages of college graduates have fallen," said Lawrence Mishel, a labor market economist and president of EPI. "People coming out of college now are getting jobs that pay less than what older brothers and sisters got when they finished college."
That's why it's hard to take all the whining and belly-aching seriously. In the past young people desperate for work were more than willing to experiment. Mass emigration, war, political revolution, rapid technological and scientific innovation, widespread fraud -- they tried it all and then some. When society for whatever reasons failed to provide a stable income and security they were willing to entertain enormous risk to do so for themselves.
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